Dai ichi Life Insurance Company Ltd Has $8.10 Million Position in Citigroup Inc. (NYSE:C)

Dai ichi Life Insurance Company Ltd lessened its stake in Citigroup Inc. (NYSE:C) by 27.4% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 129,455 shares of the company’s stock after selling 48,750 shares during the quarter. Dai ichi Life Insurance Company Ltd’s holdings in Citigroup were worth $8,104,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the company. Hancock Whitney Corp raised its holdings in Citigroup by 7.4% during the third quarter. Hancock Whitney Corp now owns 5,544 shares of the company’s stock worth $347,000 after acquiring an additional 382 shares in the last quarter. Loomis Sayles & Co. L P raised its stake in shares of Citigroup by 94.8% during the 3rd quarter. Loomis Sayles & Co. L P now owns 11,954 shares of the company’s stock worth $748,000 after purchasing an additional 5,816 shares in the last quarter. Independent Advisor Alliance grew its stake in shares of Citigroup by 1.2% in the third quarter. Independent Advisor Alliance now owns 70,252 shares of the company’s stock valued at $4,398,000 after buying an additional 851 shares in the last quarter. Fisher Asset Management LLC increased its holdings in Citigroup by 3.2% during the third quarter. Fisher Asset Management LLC now owns 28,970,357 shares of the company’s stock worth $1,813,544,000 after buying an additional 911,694 shares during the last quarter. Finally, Centaurus Financial Inc. raised its position in Citigroup by 10.9% during the third quarter. Centaurus Financial Inc. now owns 8,594 shares of the company’s stock worth $538,000 after acquiring an additional 842 shares in the last quarter. Institutional investors own 71.72% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Bank of America lifted their price target on Citigroup from $77.00 to $78.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Oppenheimer boosted their target price on shares of Citigroup from $91.00 to $107.00 and gave the company an “outperform” rating in a research report on Tuesday, November 5th. Barclays upped their price target on shares of Citigroup from $63.00 to $70.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 16th. Morgan Stanley dropped their price objective on shares of Citigroup from $86.00 to $82.00 and set an “overweight” rating for the company in a research note on Wednesday, October 16th. Finally, Wells Fargo & Company increased their target price on shares of Citigroup from $85.00 to $95.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $73.00.

Citigroup Trading Up 1.3 %

NYSE C opened at $70.73 on Tuesday. The stock has a market capitalization of $133.77 billion, a P/E ratio of 20.50, a P/E/G ratio of 0.78 and a beta of 1.44. Citigroup Inc. has a one year low of $44.56 and a one year high of $71.19. The business has a 50 day simple moving average of $64.56 and a 200 day simple moving average of $62.90. The company has a debt-to-equity ratio of 1.55, a current ratio of 0.96 and a quick ratio of 0.96.

Citigroup (NYSE:C) last issued its earnings results on Tuesday, October 15th. The company reported $1.51 earnings per share for the quarter, topping analysts’ consensus estimates of $1.31 by $0.20. Citigroup had a return on equity of 6.19% and a net margin of 4.70%. The company had revenue of $20.32 billion for the quarter, compared to analyst estimates of $19.86 billion. During the same period in the prior year, the firm earned $1.52 earnings per share. Citigroup’s revenue for the quarter was up .9% on a year-over-year basis. Research analysts expect that Citigroup Inc. will post 5.85 earnings per share for the current year.

Citigroup Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Tuesday, November 5th were issued a $0.56 dividend. The ex-dividend date was Monday, November 4th. This represents a $2.24 annualized dividend and a dividend yield of 3.17%. Citigroup’s dividend payout ratio is currently 64.93%.

Citigroup Company Profile

Citigroup Inc, a diversified financial service holding company, provides various financial product and services to consumers, corporations, governments, and institutions worldwide. It operates through five segments: Services, Markets, Banking, U.S. Personal Banking, and Wealth. The Services segment includes Treasury and Trade Solutions, which provides cash management, trade, and working capital solutions to multinational corporations, financial institutions, and public sector organizations; and Securities Services, such as cross-border support for clients, local market expertise, post-trade technologies, data solutions, and various securities services solutions.